Lahore is seen to undergo rapid expansion over the past few years to cater to the unprecedented influx of migrants and this unchecked relocation of citizens has triggered a tremendous population surge to the point of resource exhaustion; signaling a housing crisis in the city of over 12 million people. And to meet the demand for new housing units, many residential projects are being set up across the city – opening up new avenues for infrastructure development and growth.
The pace of this urbanization has been such that that it virtually eliminates the boundaries of the historic city that once resided within the 12 gates. The southern part of the city, in particular, is seeing an explosive growth with various housing schemes establishing their presence in the once neglected part of Lahore; providing tremendous opportunities for availing affordable yet luxurious residential accommodations.
New Lahore City is one such project which aims to fulfill the evolving needs and preferences of suburban dwellers. The brainchild of Zaitoon, a leading real estate development company in Pakistan, New Lahore City comes with exciting investment offers, an ideal location, and a full range of community facilities.
The residential scheme is located on the Main Canal Bank Road, which lies a mere six kilometres from the Shahkam Chowk and one kilometre from the Lahore Ring Road SL-3 interchange (aka Multan Road Interchange). The project is accessible with a 10-minute drive from the Ferozepur Road and a 15-minute drive from the M-2 Interchange. Moreover, the duration of the housing scheme form LDA Lahore and the Lahore Airport is 20 and 25-minutes, respectively. If you opt for the Main Multan Road then the project is just a 3-minute drive away.
What’s on offer?
New Lahore City is currently offering residential and commercial plots measuring between 2 and 40 marlas; available at affordable prices to cater to the varying needs of the dwellers. Interested parties can avail bookings with 17.55% down payment, while the rest has to be paid through a 3.5-year easy instalment plan. As for the facilities awaiting the future residents of the project, New Lahore City comes equipped with:
- A walled and gated community (with special focus on landscaping)
- 150ft-wide main boulevard
- 55% of land allocated to lifestyle facilities
- Foolproof security
- Underground utility infrastructure (for power, gas, sewerage and telecommunication)
- Gold class cinema
- Shopping Mall
- State-of-the-art Hospital
- Jamia Masjid
- Purpose-built school
- Parks & open spaces
- Zaitoon corporate office
- 24/7 uninterrupted electricity supply
The civil and infrastructure work is currently underway at the project site. According to the developer, the investors stand to gain exciting profits if they time their investment right. Since 2011, there has been a remarkable return on profit on all properties sold in Lahore – especially the residential ones. New Lahore City is an LDA-approved project and is in the vicinity of the Bahria Town – which makes it a rather desirable locality.
The investors are seen to make a 70-80% capital gains profit in the last three years, and this investment trend will continue into the next three years, as per the estimates. In addition, the rental prospects in this residential scheme are also quite sound as the project sits in close proximity to all famous universities and schools. Not to mention, any high-rise project in this community will also generated a sizeable return on investment.
The commercial area of the project also provides an amazing opportunity for retailers seeking a strong footfall. The developer has already invited bookings on an immediate basis since multiple commercial brands have already signed up to establish their outlets in the project.
About the Developer
Zaitoon has successfully delivered multiple residential and commercial projects since its inception in 1987. The residential project by the famed real estate developers includes Royal Enclave, Premium Enclave, Platinum Enclave, Pearl Enclave, Overseas Enclave and Zaitoon Residencia. The company has some commercial structures (Japan Center, Lucky Center, Landmark Plaza) dotting the metropolises of Karachi, Lahore and Islamabad.
The founders and talent behind this organization claim that they care for their clients’ wishes more than the profits which is why they never compromise on constructions standards and strive to provide extra value for money. The group has been working in the market for the past three decades and excelled due to their persistent commitment to excellence.